1 In 3 American Malls Are Doomed

by MR Magazine Staff

About one-third of American malls are not long for this world, retail analyst Jan Kniffen said Thursday. The CEO of J. Rogers Kniffen Worldwide Enterprises spoke after Macy’s reported its worst sequential same-store sales decline since the financial crisis. Macy’s and other retailers got slammed by a warm winter and cool spring, as well as the continued migration of millennials to fast fashion and off-price stores, Kniffen said. The results are also a sign of the country’s oversupply of retail space at a time when commerce is moving online, he added. See more at CNBC.

One Reply to “1 In 3 American Malls Are Doomed”

  1. Macy’s started the race to the bottom over twenty years ago, It is at least ironic that leader in worst practices is reaping the rewards at long last.

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